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What Are LA’s Hottest Startups of 2022? See Who VCs Picked in dot.LA’s Annual Survey
Harri Weber
Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to harrison@dot.la.
In Los Angeles—like the startup environment at large—venture funding and valuations skyrocketed in 2021, even as the coronavirus pandemic continued to surge and supply chain issues rattled the economy. The result was a startup ecosystem that continued to build on its momentum, with no shortage of companies raising private capital at billion-dollar-plus unicorn valuations.
In order to gauge the local startup scene and who’s leading the proverbial pack, we asked more than 30 leading L.A.-based investors for their take on the hottest firms in the region. They responded with more than two dozen venture-backed companies; three startups, in particular, rose above the rest as repeat nominees, while we've organized the rest by their amount of capital raised as of January, according to data from PitchBook. (We also asked VCs not to pick any of their own portfolio companies, and vetted the list to ensure they stuck to that rule.)
Without further ado, here are the 26 L.A. startups that VCs have their eyes on in 2022.
1. Whatnot ($225.4 million raised)
Whatnot was the name most often on the minds of L.A. venture investors—understandably, given its prolific fundraising year. Whatnot raised some $220 million across three separate funding rounds in 2021, on the way to a $1.5 billion valuation.
The Marina del Rey-based livestream shopping platform was founded by former GOAT product manager Logan Head and ex-Googler Grant LaFontaine. The startup made its name by providing a live auction platform for buying and selling collectables like rare Pokémon cards, and has since expanded into sports memorabilia, sneakers and apparel.
2. Boulevard ($40.3 million raised)
Boulevard’s backers include Santa Monica-based early-stage VC firm Bonfire Ventures, which focuses on B2B software startups. The Downtown-based company fits nicely within that thesis; Boulevard builds booking and payment software for salons and spas. The firm has worked with prominent brands such as Toni & Guy and HeyDay.
3. GOAT ($492.7 million)
GOAT launched in 2015 as a marketplace to help sneakerheads authenticate used Air Jordans and other collectible shoes. It has since grown at a prolific rate, expanding into apparel and accessories and exceeding $2 billion in merchandise sales in 2020. The startup sealed a $195 million funding round last summer that more than doubled its valuation, to $3.7 billion.
The Best of the Rest
VideoAmp ($578.6 raised)
Nielsen competitor VideoAmp gathers data on who's watching what across streaming services, traditional TV and social apps like YouTube. The company positions itself as an alternative to so-called "legacy" systems like Nielsen, which it says are "fragmented, riddled with complexity and inaccurate." In addition to venture funding, its total funding figure includes more than $165 million in debt financing.
Mythical Games ($269.4 million raised)
Seizing on the NFT craze, Mythical Games is building a platform that powers the growing realm of “play-to-earn games.” Backed by NBA legend Michael Jordan and Andreessen Horowitz, the Sherman Oaks-based startup’s partners include game publishers Abstraction, Creative Mobile and CCG Lab.
FloQast ($202 million raised)
FloQast founder Michael Whitmire says he got a “no” from more than 100 investors in the process of raising a seed round. Today, the accounting software company is considered a unicorn.
Nacelle ($70.8 million raised)
Nacelle produces docuseries, books, comedy albums and podcasts. The media company’s efforts include the Netflix travel series “Down To Earth with Zac Efron.”
Wave ($66 million raised)
A platform for virtual concerts, Wave has hosted performances by artists including Justin Bieber, Tinashe and The Weeknd. The company says it has raised $66 million to date from the likes of Warner Music and Tencent.
Papaya ($65.2 million raised)
Sherman Oaks-based Papaya looks to make it easier to pay “any” bill—from hospital bills to parking tickets—via its mobile app.
LeaseLock ($63.2 million raised)
Based in Marina del Rey, LeaseLock says it’s on a mission to eliminate security deposits for apartment renters.
Emotive ($58.1 million raised)
Emotive sells text message-focused marketing tools to ecommerce firms like underwear brand Parade and men's grooming company Beardbrand.
Dray Alliance ($55 million raised)
Based in Long Beach, Dray says its mission is to “modernize the logistics and trucking industry.” Its partners include Danish shipping company Maersk and toy maker Mattel.
Coco ($43 million raised)
Coco makes small pink robots on wheels (you may have seen them around town) that deliver food via a remote pilot. Its investors include Y Combinator and Silicon Valley Bank.
HiveWatch ($25 million raised)
HiveWatch develops physical security software. Its investors include former Twitter executive Dick Costollo and NBA star Steph Curry’s Penny Jar Capital.
Popshop ($24.5 million raised)
Whatnot competitor Popshop is betting that live-shopping is the future of ecommerce. The West Hollywood-based firm focuses on collectables such as trading cards and anime merchandise.
First Resonance ($19.4 million raised)
Founded by former SpaceX engineer Karan Talati, First Resonance runs a software platform for makers of electric cars and aerospace technology. Its clients include Santa Cruz-based air taxi company Joby Aviation and Alameda-based rocket company Astra.
Open Raven ($19 million raised)
Founded by Crowdstrike and Microsoft alums, Open Raven aims to protect user data. The cybersecurity firm’s investors include Kleiner Perkins and Upfront Ventures.
Fourthwall ($17 million raised)
When an actor faces the camera and speaks directly to the audience, it’s known as “breaking the fourth wall.” Named after the trope, Venice-based Fourthwall offers a website builder that’s designed for content creators.
The Non Fungible Token Company ($15 million raised)
The Non Fungible Token Company creates NFTs for musicians under the name Unblocked. Its investors include Jay Z’s Marcy Venture Partners and Shawn Mendez.
Safe Health Systems ($15 million raised)
Backed by Mayo Clinic Ventures, Safe Health develops telehealth software and offers tools for enterprises to launch their own health care apps.
Intro ($11.6 million raised)
Intro’s app lets you book video calls with experts—from celebrity stylists, to astrologists, to investors.
DASH Systems ($8.5 million raised)
With the tagline “Land the package, not the plane,” DASH Systems is a Hawthorne-based shipping company that builds hardware and software for automated airdrops.
Ettitude ($3.5 million raised)
With a focus on sustainability, Ettitude is a direct-to-consumer brand that sells bedding, bathroom textiles and sleepwear.
Afterparty ($3 million raised)
Along similar lines as Unblocked, Afterparty creates NFTs for artists and content creators such as Clay Perry and Tropix.
Heart to Heart ($0.75 million raised)
Heart to Heart is an audio-focused dating app that “lets you listen to the story behind the pictures in a profile.” Precursor Ventures led the pre-seed funding round.
Frigg (undisclosed)
Frigg makes hair and beauty products that contain cannabinoids such as CBD. The Valley Village-based company raised an undisclosed seed round in August.
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Harri Weber
Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to harrison@dot.la.
The New Face of Live Shopping: Whatnot’s $5B Journey
10:54 AM | January 17, 2025
🔦 Spotlight
Hello Los Angeles,
This week has been a challenging one for many in our city as we continue to face the aftermath of the recent wildfires. Recovery efforts are in full swing, and as always, the strength and resilience of our community shine through.
If you or someone you know has been impacted, there are resources available to help navigate this difficult time:
- LA County Wildfire Recovery Resources: Access here
- City of Los Angeles Recovery Resources: Access here
- Eaton Fire Damage Maps: View here
- Pacific Palisades Fire Damage Maps: View here
These tools can provide support, whether you’re looking for financial assistance, housing resources, or updates on affected areas.
While our community focuses on recovery, we’re also reminded of what makes LA unique: its unrelenting drive to build, create, and innovate. A great example this week comes from Whatnot, the live shopping platform co-founded in 2019 by Grant LaFontaine and Logan Head, which has just achieved a major milestone.
Whatnot announced it raised $265 million in Series E funding, valuing the company at an impressive $5 billion.
For those unfamiliar, Whatnot combines shopping and entertainment through live-streamed auctions. Think of it as a vibrant, interactive marketplace where sellers showcase everything from trading cards and collectibles to fashion items, all in real time. Buyers can bid during the stream, creating a sense of excitement and connection that feels more personal than traditional online shopping.
The company’s new funding—co-led by Greycroft, DST Global, and Avra Capital—will drive expansion into markets like Australia and bring improvements to seller tools, from inventory management to advanced analytics. But what stands out most is Whatnot’s focus on its people. CEO Grant LaFontaine announced plans to buy back $72 million in shares for long-term employees, a move that underscores the company’s dedication to sharing its success.
As we move forward, let’s celebrate stories like these that show how innovation thrives in LA—even amid challenges. Whether it’s supporting wildfire recovery, building the next great startup, or simply connecting with others, we each play a role in shaping the spirit of our city.
🤝 Venture Deals
LA Companies
- Phase Four, a leader in advanced in-space propulsion systems, announced the first close of its Series C funding round, securing nearly 60% of the target raise, led by Artemis Group Capital, to ramp up production of its Valkyrie Hall Effect Thrusters to at least 250 units annually and develop cutting-edge propulsion technologies for defense and national security needs. - learn more
- Proper, a next-generation supplement brand launched by fitness entrepreneur Amanda Kloots, secured investment from Ben Bennett's Beauty Accelerator, The Center, to redefine the supplement industry with innovative, nutrient-focused wellness solutions tailored for modern lifestyles. - learn more
LA Venture Funds
- Sound Ventures participated in a $17M funding round for Reshop, a platform simplifying the returns process for consumers and merchants, with plans to use the funds to enhance their technology and expand their services. - learn more
- LFX Venture Partners participated in a $30M strategic funding round for Shippeo, a Paris-based company specializing in real-time multimodal supply chain transportation visibility; the funds will support Shippeo's global expansion, particularly across North America and the Asia-Pacific region. - learn more
- Amboy Street Ventures participated in a $15M Series A+ funding round for Granata Bio, a biotechnology company focused on developing advanced gene therapies; the proceeds will be used to accelerate the development of their pipeline and expand their research capabilities. - learn more
- BAM Ventures participated in a $700,000 seed funding round for MX Locker, an online marketplace for buying and selling motocross gear and parts; the company plans to use the proceeds to enhance its platform and expand its user base. - learn more
- Crosscut Ventures participated in a $7.15M seed funding round for SoloPulse, an Atlanta-based company developing advanced radar technology; the funds will be used to enhance their product development and expand market reach. - learn more
- Alexandria Venture Investments participated in a $100M Series C funding round for Umoja Biopharma, a Seattle-based immunotherapy startup developing in vivo CAR T-cell therapies for cancer; the proceeds will support the advancement of their treatment pipeline. - learn more
- Starburst Ventures participated in Loft Orbital’s $170M Series C funding round, bringing the San Francisco-based satellite infrastructure provider’s total capital raised to $280 million, with the funds aimed at accelerating their "condosat" missions to simplify and expand access to space. - learn more
- Overture VC participated in a $100M Series B funding round for Harbinger, a Southern California-based electric vehicle company specializing in medium-duty EVs; the funds will be used to accelerate the production of their electric vehicle platforms. - learn more
- Muse Capital and Time BioVentures participated in an $18M Series A funding round for Conceivable Life Sciences, a New York-based biotech company developing the world's first AI-powered automated IVF lab; the funds will support their ongoing commercial pilot program in Mexico City and preparations for a U.S. launch targeted for early 2026. - learn more
- B Capital Group participated in a $25M Series B funding round for Labviva, a Boston-based AI-driven procurement platform for life sciences; the funds will be used to accelerate product development, enhance marketing and customer support, and expand internationally. - learn more
- Focalpoint Partners participated in a seed funding round for Kerna Labs, a San Francisco-based AI biotechnology company focused on advancing mRNA payload design for new therapies, with the funds supporting operational expansion and development efforts. - learn more
LA Exits
- Intracom Systems, a pioneer in software-based communication solutions, has been acquired by IPC, a global leader in trading communications technology, to enhance IPC's SaaS communications offerings for the financial services industry. - learn more
- Adexa, a provider of advanced supply chain planning solutions, has been acquired by Eyelit Technologies to enhance its Manufacturing Operations Management (MOM) and Manufacturing Execution Systems (MES) offerings and expand its market presence. - learn more
- Caramel, a platform specializing in simplifying online vehicle transactions, has been acquired by eBay to enhance its offerings for secure and streamlined automotive buying and selling experiences. - learn more
- ImaginAb, a biotechnology company specializing in antibody-based imaging and therapeutic solutions, has been acquired by Telix Pharmaceuticals to expand its next-generation therapeutic assets and biologics technology platform. - learn more
- Sleepypod, a global leader in crash-test-certified safety harnesses and carriers for pets, has been acquired by Paw Prosper to enhance its commitment to pet well-being and expand its portfolio of innovative pet safety solutions. - learn more
Read moreShow less
Here's How To Get a Digital License Plate In California
03:49 PM | October 14, 2022
Photo by Clayton Cardinalli on Unsplash
Thanks to a new bill passed on October 5, California drivers now have the choice to chuck their traditional metal license plates and replace them with digital ones.
The plates are referred to as “Rplate” and were developed by Sacramento-based Reviver. A news release on Reviver’s website that accompanied the bill’s passage states that there are “two device options enabling vehicle owners to connect their vehicle with a suite of services including in-app registration renewal, visual personalization, vehicle location services and security features such as easily reporting a vehicle as stolen.”
Reviver Auto Current and Future CapabilitiesFrom Youtube
There are wired (connected to and powered by a vehicle’s electrical system) and battery-powered options, and drivers can choose to pay for their plates monthly or annually. Four-year agreements for battery-powered plates begin at $19.95 a month or $215.40 yearly. Commercial vehicles will pay $275.40 each year for wired plates. A two-year agreement for wired plates costs $24.95 per month. Drivers can choose to install their plates, but on its website, Reviver offers professional installation for $150.
A pilot digital plate program was launched in 2018, and according to the Los Angeles Times, there were 175,000 participants. The new bill ensures all 27 million California drivers can elect to get a digital plate of their own.
California is the third state after Arizona and Michigan to offer digital plates to all drivers, while Texas currently only provides the digital option for commercial vehicles. In July 2022, Deseret News reported that Colorado might also offer the option. They have several advantages over the classic metal plates as well—as the L.A. Times notes, digital plates will streamline registration renewals and reduce time spent at the DMV. They also have light and dark modes, according to Reviver’s website. Thanks to an accompanying app, they act as additional vehicle security, alerting drivers to unexpected vehicle movements and providing a method to report stolen vehicles.
As part of the new digital plate program, Reviver touts its products’ connectivity, stating that in addition to Bluetooth capabilities, digital plates have “national 5G network connectivity and stability.” But don’t worry—the same plates purportedly protect owner privacy with cloud support and encrypted software updates.
5 Reasons to avoid the digital license plate | Ride TechFrom Youtube
After the Rplate pilot program was announced four years ago, some raised questions about just how good an idea digital plates might be. Reviver and others who support switching to digital emphasize personalization, efficient DMV operations and connectivity. However, a 2018 post published by Sophos’s Naked Security blog pointed out that “the plates could be as susceptible to hacking as other wireless and IoT technologies,” noting that everyday “objects – things like kettles, TVs, and baby monitors – are getting connected to the internet with elementary security flaws still in place.”
To that end, a May 2018 syndicated New York Times news service article about digital plates quoted the Electronic Frontier Foundation (EFF), which warned that such a device could be a “‘honeypot of data,’ recording the drivers’ trips to the grocery store, or to a protest, or to an abortion clinic.”
For now, Rplates are another option in addition to old-fashioned metal, and many are likely to opt out due to cost alone. If you decide to go the digital route, however, it helps if you know what you could be getting yourself into.
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Steve Huff
Steve Huff is an Editor and Reporter at dot.LA. Steve was previously managing editor for The Metaverse Post and before that deputy digital editor for Maxim magazine. He has written for Inside Hook, Observer and New York Mag. Steve is the author of two official tie-ins books for AMC’s hit “Breaking Bad” prequel, “Better Call Saul.” He’s also a classically-trained tenor and has performed with opera companies and orchestras all over the Eastern U.S. He lives in the greater Boston metro area with his wife, educator Dr. Dana Huff.
steve@dot.la
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